Zhou urg r4i suppliers es for international financial reforms

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Zhou urg r4i suppliers es for international financial reforms

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Zhou urges for international financial reformsPublished: 29 Mar 2009 21:42:52 PST<p class="authorInfor"]</p]<!--begin CK content--]<P]Mar. 30, 2009 (China Knowledge) - Zhou Xiaochuan, governor of the People's Bank of China (PBOC), urged for international financial reforms amid the global financial crisis, the official Xinhua News reported.</P]<P]The international financial organizations, including the International Monetary Fund (IMF) and the World Bank, are expected to discuss the financial reforms and regulatory measures at the upcoming G20 summit of leading industrialized and developing nations in London, said Zhou on Saturday when attending the Inter-American Development Bank (IDB) meeting in Medellin, Colombia. </P]<P]China has participated in some international working groups to jointly overcome the negative impact of the global economic downturn, Zhou said, adding international financial institutions are likely to map out some reform agenda soon.</P]<P]Zhou also called for tougher regulation of international financial institutions. Last week, the Chinese official proposed to create a super-sovereign reserve currency as part of the reform in the international monetary system.</P]<P]In October last year, the IDB approved China to become the 48th member country of the U.S. bank, sources said.<BR]</P]
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